GW Henssler & Associates Ltd. increased its position in Darden Restaurants Inc. (NYSE:DRI) by 8.9% during the second quarter, Holdings Channel reports. The firm owned 97,548 shares of the restaurant operator’s stock after buying an additional 7,975 shares during the period. GW Henssler & Associates Ltd.’s holdings in Darden Restaurants were worth $6,179,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc RI increased its position in Darden Restaurants by 320.0% in the first quarter. Citizens Financial Group Inc RI now owns 2,520 shares of the restaurant operator’s stock worth $167,000 after buying an additional 1,920 shares during the period. First Manhattan Co. increased its position in Darden Restaurants by 62.4% in the second quarter. First Manhattan Co. now owns 2,679 shares of the restaurant operator’s stock worth $169,000 after buying an additional 1,029 shares during the period. Acadian Asset Management LLC bought a new position in Darden Restaurants during the second quarter worth $170,000. Cypress Capital Management LLC WY bought a new position in Darden Restaurants during the second quarter worth $172,000. Finally, Trillium Asset Management LLC bought a new position in Darden Restaurants during the second quarter worth $201,000. 94.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Darden Restaurants Inc. (NYSE:DRI) traded up 0.08% during midday trading on Friday, reaching $62.23. 861,548 shares of the company’s stock traded hands. The company has a 50 day moving average of $61.92 and a 200 day moving average of $63.67. The firm has a market cap of $7.66 billion, a PE ratio of 20.09 and a beta of 0.41. Darden Restaurants Inc. has a 52-week low of $53.38 and a 52-week high of $68.68.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. Darden Restaurants had a net margin of 5.73% and a return on equity of 24.97%. The business earned $1.71 billion during the quarter. During the same quarter last year, the business posted $0.68 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts predict that Darden Restaurants Inc. will post $3.92 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.60%. Darden Restaurants’s dividend payout ratio (DPR) is presently 72.03%.
DRI has been the subject of a number of recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $76.00 price objective on shares of Darden Restaurants in a report on Tuesday, July 5th. BMO Capital Markets restated a “market perform” rating and set a $64.00 price target (down from $66.00) on shares of Darden Restaurants in a report on Tuesday, July 5th. SunTrust Banks Inc. decreased their price target on shares of Darden Restaurants from $70.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, October 5th. Stifel Nicolaus cut shares of Darden Restaurants from a “hold” rating to a “sell” rating and set a $53.00 price target for the company. in a report on Tuesday, July 26th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $70.00 price target on shares of Darden Restaurants in a report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $69.89.
In other news, SVP Danielle L. Kirgan sold 8,780 shares of the firm’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $62.47, for a total value of $548,486.60. Following the completion of the transaction, the senior vice president now directly owns 15,989 shares in the company, valued at $998,832.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Danielle L. Kirgan sold 28,127 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $62.47, for a total transaction of $1,757,093.69. Following the completion of the transaction, the senior vice president now owns 15,989 shares of the company’s stock, valued at $998,832.83. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
Darden Restaurants Company Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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